By Ivan Anderzhanov
Barclays Capital, the investment banking subsidiary of the British bank, has kicked off its coverage of Russian stocks.
A London-based team of analysts today initiated coverage on Russia’s leading oil and gas majors.
The team is led by Ilya Balabanovksy, who previously worked at JP Morgan as an oil analyst. Its report today opened up with a positive outlook for the sector with Rosneft named as top pick.
Insiders at Barclays say the group is keen to hire analysts on the ground to cover Russian blue-chips locally.
The bank is a powerful player in debt capital markets in Russia but is yet to make an impact in equity capital markets.
